Invesco Agrees To Buy 26-Story San Francisco Office Tower

Law360, New York (January 7, 2014, 5:07 PM EST) -- Invesco Ltd. has agreed to buy a 26-story San Francisco office tower at 101 Second St. from Hines for an undisclosed price, a person with knowledge of the matter confirmed Tuesday.

Representatives for the companies declined to comment on the deal or its price tag, but Bloomberg News reported that Invesco had agreed to pay $291 million for the building.

If accurate, that price would represent an agreement to spend $750 per square foot on the more than 388,000-square-foot office building. The deal would be the...